Top 10 Car Appraisal Questions
If you're interested in a buying a new car, you'll first need to determine how much your current one is worth. One of the best ways to do this is through a proper car appraisal.
You may not be familiar with what a car appraisal is or what's involved in the process-and that's why our team at FreeVehicleValues.com is here to help.
Below is our list of the top 10 car appraisal questions. Read through the information below and contact us when you're ready to have your vehicle appraised.
1. What Is a Car Appraisal?
The purpose of a car appraisal is to determine a fair value for your automobile. It's mainly for an insurer to determine how much it'll cost to repair your car after an accident. However, it's also used when selling or trading in your car to see how much money you could get to put toward a new ride.
2. When and Why Should I Get an Appraisal?
If you were to get into an accident, you'd want to report it to your insurer right away. Then, they'll send someone out to appraise your car to see how much damage there is.
However, if you're interested in buying a new or used car, you'll need to determine your current ride's worth. By getting a written appraisal, you'll get a fair market value, which will help when it comes time to sell or trade in your car.
3. Where Do I Get a Vehicle Appraisal?
As we mentioned above, getting an appraisal after an accident is usually done through your insurance company.
If you're getting an appraisal to sell or trade in your car, there are several resources that you can utilize. You can bring your vehicle to a dealership, where a staff member will walk around and take note of its overall condition.
You can also use online sources, such as Edmunds, Black Book, and NADA Guides. They are reputable companies that'll give you a fair estimate of your automobile's worth.
4. How Is a Car's Value Determined?
There are many factors that go into determining a vehicle's value. The major ones are mileage and condition, as well as accident history.
However, there are other factors that influence value. For example, if your vehicle has coveted features, like heated seats or a navigation system, then that can raise its value. Plus, when you go to sell your vehicle can also affect the value. Convertibles usually sell better in the summer, while all-wheel drive cars usually fare better in the winter. Keep that in mind when the time comes to sell your car.
5. What Else Impacts a Car's Value?
Surprisingly, there are other elements that can influence how much your car is worth that you may not be aware of.
The color of your car can affect its resale value. If it's black, it may not be very desirable in an area that deals with a warm climate all year long. While you may love the orange car that you bought, finding someone who equally loves it may be a bit of a challenge.
6. Can I Get More Money If I Sell It Myself?
It's quite possible that you'll get more money if you sell it yourself. However, that's not a guarantee. Plus, the process of listing your car online, scouring through potential buyers, and completing the sale may not be worth it. If you work with a reputable company, though, they'll do all the hard work while you'll just have to decide which new car you'll get next.
7. How Do I Increase My Vehicle's Value?
In order to increase your car's value, you'll want to make sure it looks good and runs well. Wash the exterior and clean the interior thoroughly. You may want to consider getting it professionally detailed to make it look as good as new.
You'll also want to make sure that all the maintenance is up to date. Have those records on hand, as well, so you can prove that the vehicle is in great shape.
8. Do New Brakes or Tires Affect the Car's Value?
This depends on the type of vehicle you have. High-end luxury cars are often equipped with specialty parts that can be expensive to replace.
However, if you're able to outfit your car with new brakes or tires, then that could up its resale value.
9. What Is Actual Cash Value, Fair Market Value, and Book Value?
Actual Cash Value (ACV) is what determines what your car is worth. There are several methods for determining this, two of which are the Fair Market Value and Book Value.
Fair Market Value is done by surveying the market and seeing how much similar vehicles are going for. Book Value is used to come up with a car's worth based on factors like the year, model, and mileage. There are several sources to determine Book Value, with Kelley Blue Book® being a common one.
10. Can Any Vehicle Be Appraised?
Any automobile can be appraised. In fact, if you own an RV, trailer, or motorcycle, they can be appraised, too. No matter if you're looking to sell or trade in, an appraiser will make sure your vehicle gets an honest and fair evaluation on its worth.
Get a Car Appraisal Today
If you're interested in getting an appraisal on your car, then contact us at FreeVehicleValues.com. We'll give your vehicle a fair assessment and will then give you up to four cash value offers to use toward a new automobile.
So, don't wait. Contact us today to get started!